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Goods In Transit
Insurance
Independent service from your local insurance specialists
Need a goods in transit insurance quote? Let the independent specialists at your local Coversure compare their markets to find you quality goods in transit insurance protection. Your local Coversure office can tailor protection to your delivery business’s needs, so start your quote today.
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Contact us to get your Goods In Transit insurance quote
What Is Goods In Transit Insurance?
Goods in transit insurance (also known as GIT insurance) insures your property if it is lost, stolen, damaged, or not delivered while it is being moved. This flexible policy can protect many types of drivers,
- Couriers
- Companies delivering customer orders
- Firms moving supplies or stock from site to site
- Warehouses collecting goods for storage
Please note that GIT insurance only covers the goods you are transporting, not your vehicle. In addition to goods in transit insurance, you will need a commercial vehicle, van, or truck insurance policy, depending on the vehicle you use.
Who Needs Goods In Transit Insurance?
Goods in transit and public liability insurance is suited to anyone who transports goods for payment or moves their own goods around. This being the case, it’s an important cover for:
- Couriers
- Hauliers
- Businesses that deliver orders to their customers
- Removal and relocation businesses
- Companies that move supplies from one site to another
- Fast food delivery drivers
- Businesses moving offices
When taking out GiT insurance, it’s a good idea to discuss with your broker the things you typically transport so they can help you get the protection you need.
What can Goods In Transit Insurance cover?
When getting a goods in transit insurance quote, you’ll want to make sure that it includes:
UK, EU, and Worldwide Protection
Does your delivery job require you to leave the country with loads? A goods in transit policy from Coversure can protect it and your personal effects whether you’re in the UK, Europe, or elsewhere in the world
Personal Effects
You’ll likely have personal possessions in your vehicle. Personal effects cover provides financial protection if any of your things are stolen or damaged while driving. Particularly useful for long-distance drivers who need home comforts for their journeys
Theft
You’ll be covered if a delivery is stolen while in your vehicle. With vehicle-related thefts on the rise* this is a wise cover for couriers and those in the haulage industry. If you are a truck driver doing long-distance routes and need to take breaks, then make sure your policy protects your loads during overnight parking or periods where you are not in your vehicle
Damage
If a package gets damaged while in your care and your customer makes a claim, GIT will protect you from any losses. This doesn’t just apply to fragile and easy-to-break packages; it can protect you against things like water damage to documents or damaged boxes that could prevent the customer from returning them
Loss of Goods
If you happen to lose an item while making your deliveries, this will assist with the costs of compensating your customer for its loss. With goods in transit insurance through your local Coversure, you can set specific cover limits for this. Do bear in mind that this will only cover goods while they are in transit
Public Liability
Provides cover should a member of the public injure themselves or if their property is damaged while you are working. It covers the cost of claims made by members of the public for incidents that occur in connection to your business’s activities, for example if they slip on the floor and decide to sue you, you’ll be covered.
Cover of up to £10 million can be offered under certain circumstances as many organisations are now requesting this amount as a minimum level of indemnity.
How Much Does Goods In Transit Insurance Cost?
The cost of your policy will depend on several factors, including:
- The value of the goods you’re carrying
- The routes you are working
- Your claims history
- Whether you want to pay monthly or annually – annually will usually be cheaper
- Your no claims bonus
The best way to find out how much protection you need is to contact your local Coversure. They’ll be able to advise you as to what you need and create a package of Goods In Transit cover for you.
Goods In Transit Insurance FAQ
This can be a complex area of cover, so to help you get the protection you need, here are Coversure’s goods in transit frequently asked questions. We hope they will be of use, but if you’d like some personalised independent advice, contact your local Coversure office.
Is goods in transit a legal requirement?
No, but some customers may insist on you having sufficient cover in place
Is goods in transit insurance just for couriers?
No, its suitable for anyone who is moving goods
What types of goods are typically covered under goods in transit insurance?
Parcels, packages, pallets and household removals can typically be covered under goods in transit insurance.
Does GIT insurance protect my vehicle?
No, for that, you’ll need a suitable car, van, or truck insurance policy
Are there specific limits or exclusions to be aware of with goods in transit insurance?
Yes, there will be specific limits and exclusions that you need to look out for. You will get this from reading the terms and conditions specific to the policy you are looking to take out. However, you can use this list as a guide:
• Most policies start with a minimum of £10,000 limit but we can offer cover starting at £5,000.
• High-value goods, perishable items, collectibles, hazardous goods such as explosives, or transporting certain types of products such as livestock are likely to be excluded or have limitations applied.
• Europe or worldwide cover is not always provided as standard, so it is worth checking with your provider if you need that type of cover.
• Transporting food such as delivery drivers from your local takeaway – this requires a different type of policy and is not typically covered on Goods in Transit policy.
• Transporting unknown items may also be excluded from your policy.
• You also need to make sure that your load is well packaged to avoid damage.
• Depending on the type of companies you are working with, they may well ask for certain indemnity limits to be applied to your policy before allowing you to work for them. Don’t be surprised if they ask to see your Insurance Certificate as evidence.
• You will also need another policy to cover items that are held in any warehousing facility you may have. Items left in your vehicle overnight and not in the process of being transported may not be covered as they are not in ‘Transit’.
• Claims may also be refused on the grounds of:
- Poor/defective packaging
- Shortage in weight
- Thefts from unlocked, unattended vehicles
- Damage that derives from dangerous driving
- Confiscation by the police/authorities
• Some courier van policies may incorporate Goods in Transit cover as part of their policy. Be aware that cover limits in these situations may be low and, therefore, you need to check that they are adequate for your requirements.
Are goods left in the vehicle overnight covered?
Yes, so long as the vehicle is locked and parked in a secure place
Does goods in transit insurance cover items stored in the depot or my premises?
No, it only covers goods that are in transit. To protect items stored in a depot or warehouse, you’ll need business contents insurance
How can I get a goods in transit insurance quote?
Getting a quote is easy; contact your local Coversure office or start your goods in transit insurance quote
How is the insurance premium calculated for goods in transit coverage?
Goods in transit insurance policy is required if you carry goods on behalf of other people. It covers damage, loss, or theft of those goods while they are in your custody and being transported from one place to another. It can also cover carriage of own goods such as tools and materials.
It is fair to say that not all insurance companies calculate your Goods in Transit premium in the same way. However, Goods in Transit premiums will be calculated using broadly the same rating factors:
• Type and value of goods you are transporting – higher value goods are likely to attract more expensive premiums as the cost of settling a claim will be higher.
• Carrying conditions – such as whether they need to be carried in a controlled environment due to their perishable nature or under lock and key due to their value, you will need to discuss this with your insurer or broker at the time of quotation. This will be factored into the premium price and reflected in the cover.
• Where you are transporting the goods – transporting across Europe or even to Worldwide destinations will increase the cost more than transporting within the UK alone.
• Your claims history
Do I need goods in transit insurance if I work with a shipping or courier company that provides their own coverage?
It will depend on the specific wording and circumstances you find yourself in. Some companies will provide blanket cover for all drivers – we would recommend that you familiarise yourself with what this covers to ensure this offers the necessary level of protection.
How does goods in transit insurance protect against theft, damage, or loss of goods during transportation?
Goods in Transit policy covers damages and losses that may happen while goods are being transported between locations. If a loss, damage or theft occurs while in the possession of the carrier, then the policy is there to cover the cost of the claim. It may also cover late delivery.
Need a Goods In Transit Insurance quote?
If you’d like a Goods In Transit Insurance quote from Coversure, please contact your local Coversure office or start your quote here. Our independent brokers will search their markets to find you the right policy at the right price to keep your business protected.
* Policy information is correct at the time of writing. Policy details, limits, and exclusions are subject to insurer’ changes. When taking out a policy, your local Coversure office will be able to advise you of the specifics of your cover.
